Infosys will begin implementing salary hikes for employees later this year, with increments being rolled out in phases across October and January, CEO Salil Parekh announced on Thursday.
Speaking during the company's post-Q1 earnings press conference, Parekh said the majority of employees would receive their salary revisions in October, while senior employees would get their hikes in January, according to Moneycontrol.
Salary hikes to be rolled out in phases
Infosys said the annual salary revision process will take place in three phases. Although the company did not disclose the percentage increase, it confirmed that the rollout will begin in October and continue through January for different categories of employees.
The announcement came alongside the company's financial results for the first quarter of FY27.
Infosys to hire 20,000 freshers
The IT services company also reaffirmed its campus hiring plans, stating that it intends to recruit 20,000 fresh graduates during the current financial year.
Infosys added that it had already onboarded more than 4,000 freshers during the April-June quarter.
Attrition rises slightly, workforce largely unchanged
Infosys reported an IT services attrition rate of 13% over the past 12 months, compared with 12.6% in the previous quarter.
The company's total workforce stood at 3,28,062 employees as of June 30, marginally lower than the 3,28,594 employees reported at the end of March.
Artificial intelligence continued to contribute a growing share of the company's business, with AI-related services accounting for 8.2% of total revenue during the quarter, up from 5.5% in the December quarter.
Large deal bookings valued at over $30 million reached $3.6 billion during the quarter, compared with $3.2 billion in the preceding quarter.
Alongside its quarterly earnings, Infosys also announced a leadership transition. The company's Board appointed Ashiss Kumar Dash as CEO-designate. He is set to assume the roles of Chief Executive Officer and Managing Director in April 2027, when Salil Parekh's current tenure concludes.
